Understanding New Generation Art Collectors

• This collector report focuses on the new generation of art collectors, aiming to understand their motivations, what alienates them, and the implications for the art world.
• The report is based on in-depth surveys from the Avant Arte community, completed by almost 1,500 people, qualitative interviews, and data.
• The goal is to provide insights into how younger audiences and new collectors can support artists and institutions.

The Collector Stereotype

• A Google Image search for 'art collector' typically shows a wealthy, older man in a blazer and designer glasses, surrounded by oil paintings.
• ChatGPT describes a traditional art collector as an older, wealthy individual from an upper-class background.
• Stereotypical art collectors are seen as snobbish and pretentious.
• A disclaimer from ChatGPT says that art collecting is a multifaceted pursuit and collectors can be incredibly diverse.
• Many, if not most, collectors don't fit the stereotype.

Our Global Community

• Avant Arte has built a community of 3.3 million enthusiasts and collectors.
• The community spans more than 100 countries, with strong concentrations in North America, Western Europe, and East Asia.
• Top 10 collector geographies: USA, UK, Japan, Netherlands, Hong Kong, South Korea, Taiwan, France, Germany, and Canada.

Key Facts From The Report

• Almost half of new-generation collectors are aged under 40.
• The breakdown is 46% aged 18-39 and 80% younger than 50
• Gender is more balanced on social channels
• Instagram: 54% of 2.7M followers are women, 62% are younger than 35.
• TikTok: 64% of 125k audience are women, 88% are under 35.
• Avant Arte strives to reach more female collectors and spotlight female artists; 36% of artist collaborators are women or non-binary, and 53% are from diverse communities.
• 4 in 10 new-gen collectors spend more than €10k a year on art
• While 14% have an annual budget of less than €1k, 39% spend more than €10k, and almost 60% spend over €5k.
• East Asia has a high percentage of people collectors spending over €10k annually.
• Taiwan at 45%, Hong Kong at 50%, and South Korea at 59%
• 3 in 4 new-gen collectors are looking for prints.
• More than 75% are interested in prints but demand for original works is also strong, with 63% interested.

The New-Generation Collector's Journey

• Half of the new collectors starting within the last 5 years
• Nearly a quarter have only been collecting for 2 years or less, and half for 5 years or less
• Collectors are split into three categories: new (0-2 years), early (2-5 years), and developing (more than 5 years).
• UK, France, USA, and Canada have a higher proportion of developing collectors, while South Korea and the Netherlands tend to be newer to collecting.
• More than 2 in 3 consider themselves collectors, despite being early in their journey.
• While most of the new generation do consider themselves collectors, they're clear on one thing: they collect to fulfil their passion for art.
• These new art collectors want to rid the "snobbish" stereotype.
• There are several reasons for not considering oneself an 'art collector': buying art for passion not financial gain; art collecting sounds too serious or pretentious; not having space or budget; and believing they don't know enough about art.
• Prints and digital works are popular to begin with before branching into originals later.
• Prints dominate over original works due to the high demand, with prints being the most common medium found in their homes, according to the study.
• Early collectors are less likely to own ceramics/pottery, sculpture, cultural artefacts, textile works, or paintings compared to experienced collectors.
• Early collectors are more likely to own digital art (39% more likely).
• As a collector buys more, the amount spent on each piece increases.
• Median price of the first piece is €765 and nearly doubles to €1,438 by their 5th piece, and is over €2,000 by their 15th piece.
• Purchases also increase as a collector buys more art.
• Over time, the time between their first and second purchases is 193 days.
• By their 5th piece, purchases are made every 3 months.
• By their 15th purchase, it's around once every 50 days.
• Early on in their collection journey, time limited additions are popular, but decrease over time
• First purchase is TL edition (~50%), 5th purchase the TL edition count drops (25%)
• By the 10th purchase, paintings, sculptures and hand finished works make up most of the additions

Attitudes, Wants, and Needs

• The main motivation for collecting art is to decorate their homes (71%).
• Financial investment is a major consideration for only 41%.
• For almost 2 in 3, buying art is a hobby, and half purchase artwork to support artists or institutions.
• Community enjoys is discovering and supporting new and emerging artists (81%)
• Collectors believe that art should be accessible to a wide audience.
• Collectors have a strong preference to limited editions because artwork scarcity remains important; collectors want to feel special when buying.
• Collectors are drawn in by their admiration for the artist over being famous.
• Top 4 motivators are: buying from artist they admire (88%), emotional connection (82%), buying art at reasonable price (72%) and good customer service (70%)
• Watching an artist's growth is a key draw for new-generation collectors
• Fame is not the most important deciding factor when purchasing art pieces

Perceptions of the Art World

• The community generally has mixed feelings about the art world.
• Large number that described the art world was seen as inspiring at 59%
• Inspiring, thought-provoking innovative and enriching were the top 4
• Almost 90% don't believe the art world is welcoming or inclusive.
• 1 in 3 believe the art world is elitist, 1 in 4 describe it as pretentious, and 1 in 5 believe it is intimidating.
• Women viewed the art world more pessimistically compared to men.

A New Generation of Patrons

• Avant Arte established a program to support art institutions that enable public access to art.
• Aim to provide funding for institutions
• Museums reigning supreme, the new generation wants to support them financially, but are unclear as to how
• Museums are essential for educating art collectors.
• In the digital age, visiting galleries and museums plays a leading role in the community.
• Galleries/museums and Instagram are how new art collectors keep up to date with the art world.
• 61% of the new generation visit galleries and museums once a month
• Two-thirds believe we should be supporting art institutions financially
• However, they need guidance because ~40% would personally like to do more to financially support art institutions